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DayAverage Application
Processing Time
The time it takes to start a limited company may vary depending on the procedure and method involved in registering a company. The frequency of the business registration will also affect the time taken to set up a UK limited company.
Here is a guide to help you understand the factors that may affect the time to set up a UK limited company and how to speed up the process.
Starting a limited company requires a lot of documents and processes before it is incorporated. To set up a UK limited company, you will need to gather details like company name, registered address, information of the shareholders and directors, prepare a Memorandum of Association and Articles of Association, share structure, details of people with significant control (PSC), and Standard Industrial Classification (SIC) code that describes your business activities.
Without all these documents, the time taken to incorporate your limited company will be affected. It takes time to put all these documents together to start the incorporation process.
Company registration service
The service you choose to incorporate your limited company will affect the timeline. If you decide to incorporate through the Companies House website, it may be fast; it can take 24 hours if you are familiar with the documents and the legal regulations required to form a limited company.
If you are not familiar with the whole process of forming a company, you can consider forming a company with a company formation agent. After filling out your company details, company formation agents can take 1 day to form your company, and once formed, a certificate of company incorporation, Articles of Association, and Memorandum of Association will be sent to you.
If you choose to incorporate the company via post, it may take longer to be incorporated. Forming a company by post may take 8 to 10 days. In case you make any mistakes in the application process, it may take longer since you will have to start the whole process again.
The day you choose to start the incorporation process
The quickest way to incorporate your company is to submit the application form during working days. Companies House will process applications quickly during working days. If you choose to submit your application on a Friday afternoon, you will have to wait until Monday for the application to be processed.
Choose the right name
Ensure you do not choose a name similar to or the same as the existing registered name. Check if your proposed name is available using the Companies House name availability checker. Also, ensure understanding of regulations about names put in place by Companies House.
Providing complete information
Ensure you provide complete information and do not make errors. Always double-check the information before applying to Companies House. Common errors include misspelt company names, incomplete office addresses, and missing details about directors and shareholders. Any mistakes in this information may delay the time it takes to incorporate a limited company, as you will have to restart the whole process.
Correct share allocation
Incorrect share allocation or improper documentation of shares can delay the incorporation process. It's important to do this right from the start. One share has been recommended for each shareholder, maintaining a share worth £1. Unless advised by an expert.
Shareholder shares may be forged, or appropriate documentation of the stock structure may lead to delays. Therefore, please check your approval assignment before applying.
If the application is rejected, you will receive a notification with a reason. The easiest way to fix the problem is to correct the error to ensure you give the correct information.
Online company registration
Online registration is faster than postal registration. Online registration may take 24 hours, while postal company registration may take 8 and 10 days.
Companies House offers online registration, which takes 24 hours for your limited company to be incorporated. This process can be seamless if you understand the whole process and the requirements of forming a company.
Company formation agents also offer online company formation services, which are fast and seamless. Your company will be formed within one day after giving out the company details. Unlike the Companies House online website, company formation agents will guide you and handle all the paperwork of the company formation. They have an online form that will take you 2 minutes to complete, filling out the company details, and they will handle the rest, even communication with Companies House. Icon Offices can help you to form your company seamlessly until it's approved.
When you have decided to incorporate a limited company, ensure that you research all that you'd need for the application process. The research will ensure you have everything needed for the application of company registration.
If you are unsure of the documents, you can approach company formation agents, who will guide you on what documents to provide. By doing this, you will be able to form the company correctly the first time. There won't be room for errors and rejection of applications, which delays the whole process.
Setting up a limited company doesn't have to be a complicated process. By doing your research to understand the requirements needed for the whole process, you can complete the whole process efficiently with no rejections and delays.
By using professional services from Icon Offices, you won't have to worry about your application being rejected or taking too long to be formed. We are well-versed in the company formation process, making it easier for us to help you incorporate your limited company effectively with no delays. Our service helps you save time and effort.
For more information on incorporating a limited company, contact us at [email protected].
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